Piper Sandler Reiterates “Overweight” Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a report released on Wednesday,Benzinga reports. They presently have a $1,100.00 price objective on the Internet television network’s stock, up from their previous price objective of $950.00. Piper Sandler’s price target would indicate a potential upside of 11.69% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a report on Wednesday. Pivotal Research raised their price objective on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research reissued an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Finally, Robert W. Baird raised their price target on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $996.94.

Netflix Trading Up 3.2 %

NFLX opened at $984.86 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $420.99 billion, a price-to-earnings ratio of 49.67, a P/E/G ratio of 1.41 and a beta of 1.27. The company has a 50-day simple moving average of $889.11 and a 200 day simple moving average of $763.41. Netflix has a twelve month low of $537.07 and a twelve month high of $999.00.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same quarter in the previous year, the business posted $2.11 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Analysts predict that Netflix will post 23.43 EPS for the current fiscal year.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the transaction, the chairman now owns 85 shares in the company, valued at $64,435.10. This trade represents a 99.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,500 shares of company stock valued at $123,309,210. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently bought and sold shares of NFLX. Epoch Investment Partners Inc. boosted its holdings in Netflix by 27.1% during the second quarter. Epoch Investment Partners Inc. now owns 544 shares of the Internet television network’s stock worth $367,000 after purchasing an additional 116 shares during the last quarter. Mill Creek Capital Advisors LLC lifted its position in shares of Netflix by 24.8% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 433 shares of the Internet television network’s stock worth $292,000 after buying an additional 86 shares in the last quarter. Clear Point Advisors Inc. lifted its position in shares of Netflix by 3.9% during the 2nd quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock worth $303,000 after buying an additional 17 shares in the last quarter. Insigneo Advisory Services LLC boosted its stake in shares of Netflix by 10.6% in the 2nd quarter. Insigneo Advisory Services LLC now owns 8,230 shares of the Internet television network’s stock worth $5,554,000 after buying an additional 786 shares during the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of Netflix by 4.7% in the second quarter. Fred Alger Management LLC now owns 465,249 shares of the Internet television network’s stock valued at $313,987,000 after acquiring an additional 20,962 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.